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Bitcoin's biggest buy

A villa on the Indonesian island of Bali has become the largest bitcoin purchase ever recorded.

Despite the currency not being regulated or accepted as legal tender, it was used to purchase the two bedroom holiday home by an anonymous buyer from Texas.

It is reported to have sold for just under 1,000 bitcoin, around $600,000.

The two bedroom villa is on the Del Mango Villa Estate Credit: RTV

Since its launch in January 2009, the digital currency that requires no centralised body to handle transactions has become popular with those who have doubts about using the traditional banking system.

The villa is located in an area popular with tourists Credit: RTV
The seller has not disclosed the exact amount the property was sold for Credit: RTV

Bitcoin operator reportedly files for bankruptcy in Japan

Protests have been held in recent days at the former Tokyo headquarters of Mt. Gox. Credit: REUTERS/Toru Hanai

Tokyo-based exchange Mt. Gox, the best-known operator of a bitcoin digital marketplace, has filed for bankruptcy, according to reports from the Japanese media.

The exchange's website went down on Tuesday, raising doubts about the future of the virtual currency, which is not backed by a government or central bank.

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US men charged with using 'Silk Road' to launder money

Two American men, who operated Bitcoin exchange businesses, have been charged with attempting to sell $1 million in the digital currency to users of the underground black market website Silk Road.

The Silk Road website, which was shut down by the FBI in September, allowed users to trade in illegal drugs and illegal goods online.

The US Attorney's office in Manhattan said that authorities arrested Charlie Shrem, chief executive officer of the exchange BitInstant.com, on Sunday and Robert Faiella, who ran an underground Bitcoin exchange called BTCKing, on Monday.

The two were charged with conspiring to commit money laundering and operating an unlicensed money transmitting business.

  1. Wales

Newport man 'devastated' by £4m Bitcoins loss

We've all heard of the phrase where there's muck there's brass...

One man's certainly hoping that's true after mistakenly throwing away a computer hard drive with information on it that's worth more than £4 million.

James Howells from Newport had 7,500 Bitcoins - an online virtual currency - and it's now worth a fortune.

He's digging on a rubbish tip near Newport and hoping to find his old computer.

Rupert Evelyn has been to meet him.

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